Barclays Cuts ConocoPhillips (NYSE:COP) Price Target to $135.00

ConocoPhillips (NYSE:COP) had its price objective lowered by Barclays from $137.00 to $135.00 in a research report released on Monday,Benzinga reports. Barclays currently has an overweight rating on the energy producer’s stock.

Other research analysts also recently issued reports about the company. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Piper Sandler decreased their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Morgan Stanley assumed coverage on ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target for the company. Truist Financial raised their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from $157.00 to $124.00 in a research note on Monday. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $133.56.

ConocoPhillips Stock Down 3.2 %

NYSE:COP opened at $98.42 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.16 and a current ratio of 1.29. The company has a market cap of $113.27 billion, a PE ratio of 12.63, a PEG ratio of 0.77 and a beta of 1.18. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The stock has a 50-day simple moving average of $100.83 and a 200 day simple moving average of $105.97.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, sell-side analysts expect that ConocoPhillips will post 8.3 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be paid a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.17%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Insider Activity at ConocoPhillips

In other news, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now directly owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of ConocoPhillips

A number of institutional investors have recently modified their holdings of COP. AMF Tjanstepension AB lifted its position in shares of ConocoPhillips by 4.7% during the 3rd quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock valued at $122,628,000 after acquiring an additional 52,334 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of ConocoPhillips by 23.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 92,618 shares of the energy producer’s stock valued at $9,751,000 after acquiring an additional 17,329 shares during the period. Willis Investment Counsel lifted its position in shares of ConocoPhillips by 0.5% during the 3rd quarter. Willis Investment Counsel now owns 222,144 shares of the energy producer’s stock valued at $23,387,000 after acquiring an additional 1,041 shares during the period. Paladin Wealth LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter valued at $692,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter valued at $73,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.